Daehan Green Power Signs MOU for Offshore Wind Power Joint Development with Korea East-West Power and Korea South-East Power

[Asia Economy Reporter Hyunseok Yoo] Eco-friendly renewable energy specialist company Daehan Green Power and its parent company Daehan Green Energy announced on the 18th that they have signed a Memorandum of Understanding (MOU) for the joint development of the Yeosu Samsan Offshore Wind Power Complex with Korea East-West Power, Korea South-East Power, and Woori Green Energy.

This MOU was promoted against the backdrop of the government's Korean New Deal comprehensive plan, which requires the development of new wind power projects totaling 2GW by 2025 for successful implementation.

The Yeosu Samsan Offshore Wind Power Complex project is a mega offshore project with a total investment of 4.225 trillion KRW, aiming for completion in 2027. The project will proceed in two phases as a total 650MW offshore wind complex, with Phase 1 at 320MW and Phase 2 at 328MW. This project is the largest single-scale offshore wind project promoted by a private business operator in Korea.

Through this agreement, Daehan Green Power, Daehan Green Energy, Korea East-West Power, and Korea South-East Power will jointly invest, and the electricity generated after the completion of the wind power complex will be supplied to Korea Electric Power Corporation. Daehan Green Energy has successfully developed the 80MW Yeonggwang Wind Power Plant jointly with Korea East-West Power and developed the Hachang Wind Power Complex and Samsu Wind Power Plant with Korea South-East Power.

Park Geun-sik, CEO of Daehan Green Power, stated, "Once the Yeosu Samsan Offshore Wind Power Complex is completed, it will be able to supply 1,509 GWh of electricity, enough to power approximately 600,000 households for one year," adding, "We expect the economic effect from revitalizing the local economy and creating jobs through this project to reach about 309 billion KRW."

Daehan Green Energy, Korea's leading renewable energy developer, participated last year in a mega wind power demonstration base construction project jointly with Jeollanam-do, Yeonggwang-gun, Jeonnam Technopark, Mokpo National University, and the Korea Energy Agency, uniquely sharing its privately owned underground transmission line technology and infrastructure. Additionally, it plays a pivotal role as a leader in domestic renewable energy by supporting certification for 5-8MW large-capacity offshore wind power systems being developed by Unison and Doosan Heavy Industries with government support, thereby promoting renewable energy projects nationwide.

CEO Park Geun-sik currently serves as vice chairman of the Jeonnam Wind Power Industry Association and supports the Southwest Offshore Wind Power Complex project (total 8.2GW) with a total investment of 48 trillion KRW, promoted by Jeollanam-do, known as the mecca of domestic renewable energy, in collaboration with academia, research institutes, local governments, and related domestic companies.

CEO Park said, "The Jeonnam Yeonggwang Duuri Offshore Wind and Yeosu Samsan Offshore Wind projects are expansion projects of the Southwest Offshore Wind Power Complex promoted by Jeollanam-do. Daehan Green Energy and Daehan Green Power plan to actively participate by fully mobilizing the development experience and capabilities they have accumulated in projects established around Sinan, Jeonnam," adding, "Daehan Green Power and Daehan Green Energy, leading domestic renewable energy development, will actively take the lead in realizing the government's ‘2050 Carbon Neutrality’ and the goal of becoming a top five offshore wind power nation."

This content was produced with the assistance of AI translation services.